The FAA last week approved Boeing's solution to the problematic lithium-ion batteries, which includes replacing them and their chargers with modified components and installing a steel enclosure system to contain any overheating.

Net income soared to US$1.1 billion ($1.3 billion) in the first quarter, up 20 per cent from the year-earlier period, while revenues declined 3 per cent to US$18.9 billion. Core earnings were US$1.73 a share, well above analysts' expectations of US$1.48 a share. Boeing shares rose 3.1 per cent to US$90.93.

The company did not reveal how much the 787 battery episode will cost it.